Dublin - Significant reduction in rents coming?

JimmyVik · 05-02-2021 5:01pm

mrslancaster wrote: »

If online is working for courses that don't need full time physical attendance right now, would international students not stay in their own country & study from home in future? Cheaper & less hassle about visas etc for students & probably similar revenue for the universities.

They (international students) could easily have found online courses and stayed at home in the past and saved money.
They didnt, because I assume the local experience is important to them.
So my guess is they will be back.

As for domestic students, i have two nephews who started 1st year at UCD this year. I feel so sorry for them. They are not getting the college experience in any way, shape or form. This virus i think is much harder on school leavers than anyone else. Its just taken a part of their lives where they go out and spread their wings off of them.

Claw Hammer · 05-02-2021 6:02pm

JimmyVik wrote: »

As for domestic students, i have two nephews who started 1st year at UCD this year. I feel so sorry for them. They are not getting the college experience in any way, shape or form. This virus i think is much harder on school leavers than anyone else. Its just taken a part of their lives where they go out and spread their wings off of them.

At least they are not out drinking, taking drugs, arsing around and wasting their parents money.

Dav010 · 05-02-2021 6:32pm

Claw Hammer wrote: »

At least they are not out drinking, taking drugs, arsing around and wasting their parents money.

That’s what we are sorry they are missing out on. Jeez man, were you ever young?

cgcsb · 06-02-2021 1:59pm

Past few days the number of properties for sale on daft seeking under €200k seems to have increased dramatically. Lots of properties being auctioned also. These are mostly 1 or 2 bed apartments in poorer areas.

Ozark707 · 06-02-2021 4:42pm

cgcsb wrote: »

Past few days the number of properties for sale on daft seeking under €200k seems to have increased dramatically. Lots of properties being auctioned also. These are mostly 1 or 2 bed apartments in poorer areas.

Dublin?

Claw Hammer · 06-02-2021 4:46pm

cgcsb wrote: »

Past few days the number of properties for sale on daft seeking under €200k seems to have increased dramatically. Lots of properties being auctioned also. These are mostly 1 or 2 bed apartments in poorer areas.

What has that got to do with rents in Dublin?

Yellow_Blue · 06-02-2021 7:09pm

Last month I submitted 12-15 inquiries to view , we managed to view 2 apartments. Majority haven't got back to us at all. And few asked for double deposits/ reference packs prior to viewing. Based on that I assume there is enough candidates to rent. The areas we are searching are far from universities though.

bucketybuck · 06-02-2021 7:32pm

Yellow_Blue wrote: »

Last month I submitted 12-15 inquiries to view , we managed to view 2 apartments. Majority haven't got back to us at all.

I'm having the same issue, just not getting replies at all. Cant figure it out, why advertise if you aren't going to bother responding to potential customers?

And it's not that I am giving off red flags in my enquiry, I am confident of that.

Timing belt · 06-02-2021 7:52pm

bucketybuck wrote: »

I'm having the same issue, just not getting replies at all. Cant figure it out, why advertise if you aren't going to bother responding to potential customers?

And it's not that I am giving off red flags in my enquiry, I am confident of that.

What type of property are you looking at if you don't mind me asking?

Just curious to see if it it would be a BTL landlord or a REIT/Fund

bucketybuck · 06-02-2021 9:06pm

Timing belt wrote: »

What type of property are you looking at if you don't mind me asking?

Just curious to see if it it would be a BTL landlord or a REIT/Fund

Looking at 1/2 bed apartments in Dublin, budget anything up to €1900/2000 p/m.

I find I get responses from private landlords but the estate or letting agents are completely useless. There is one agent in particular with a substantial number of listings on Daft that I have just stopped bothering with, the listings are all sitting there for months now but you never get a response.

Ozark707 · 06-02-2021 9:54pm

bucketybuck wrote: »

Looking at 1/2 bed apartments in Dublin, budget anything up to €1900/2000 p/m.

I find I get responses from private landlords but the estate or letting agents are completely useless. There is one agent in particular with a substantial number of listings on Daft that I have just stopped bothering with, the listings are all sitting there for months now but you never get a response.

They might be possibly gone but it is a form of advertising for the agency?

dublin_paul · 08-02-2021 12:47pm

I'm thinking of renting a 1 bed apartment for around 1600 euros on my own. With corona, gf coming over a few nights a week, and WFH, I feel like I could take the hit for a year. But I think a 6 month lease would be much better than 12 due to the potential for rent drops or economic crisis. Any thoughts?

The_Conductor · 08-02-2021 12:51pm

dublin_paul wrote: »

I'm thinking of renting a 1 bed apartment for around 1600 euros on my own. With corona, gf coming over a few nights a week, and WFH, I feel like I could take the hit for a year. But I think a 6 month lease would be much better than 12 due to the potential for rent drops or economic crisis. Any thoughts?

Landlord can only legally review the rent once every 12 months.
You gain Part IV tenancy rights only after 6 months.
A 1 year lease is more in your favour, than in a landlord's favour.....?

Also- the rent you're suggesting seems rather high. Where is the property?

dublin_paul · 08-02-2021 1:28pm

The_Conductor wrote: »

Landlord can only legally review the rent once every 12 months.
You gain Part IV tenancy rights only after 6 months.
A 1 year lease is more in your favour, than in a landlord's favour.....?

Also- the rent you're suggesting seems rather high. Where is the property?

I was thinking of if my personal situation is different in 6 months time, things could change really fast in the current climate (not my employment, but friends to share with... a miracle restrictions lift, etc). I'm 100% on the fence here, I would sign a 1-year lease if they say no to 6 months though.

Stepaside, it's a nice apartment with big windows and has a car spot. It's definitely expensive but I'm not really seeing anything similar at a lower price

08-02-2021 3:49pm

dublin_paul wrote: »

I'm thinking of renting a 1 bed apartment for around 1600 euros on my own. With corona, gf coming over a few nights a week, and WFH, I feel like I could take the hit for a year...............Any thoughts?

What's your current living arrangement?

dublin_paul · 08-02-2021 6:11pm

Augeo wrote: »

What's your current living arrangement?

I rent with 2 other guys in a nice 3 bed 2 bath terrace house. We're splitting up and going our own way after our lease is up (life taking us different directions, no animosity)

Smouse156 · 18-02-2021 1:25pm

Just got an email off Vesta Living, which was quite popular when it launched now offering 2 months free on 2 & 3 bed apartments when you sign a one year lease...and people say rents aren’t falling ðŸ˜‚

Just remember these discounts aren’t reflected in the Daft asking price for all of you (Dav010) that believe the Daft asking price reports.

Yellow_Blue · 18-02-2021 1:33pm

Smouse156 wrote: »

Just got an email off Vesta Living, which was quite popular when it launched now offering 2 months free on 2 & 3 bed apartments when you sign a one year lease...and people say rents aren’t falling ��

Just remember these discounts aren’t reflected in the Daft asking price for all of you (Dav010) that believe the Daft asking price reports.

They are not even on daft now. Interesting approach

Ozark707 · 18-02-2021 2:41pm

Smouse156 wrote: »

Just got an email off Vesta Living, which was quite popular when it launched now offering 2 months free on 2 & 3 bed apartments when you sign a one year lease...and people say rents aren’t falling &#55357;&#56834;

Just remember these discounts aren’t reflected in the Daft asking price for all of you (Dav010) that believe the Daft asking price reports.

Well it was always going to be difficult to sustain those prices while rents were falling. Were they not asking something approaching 2k (for a 2 bed)? Still its good to see them adapting to realities by offering a second month free. I wonder what existing tenants out there will be able to do when their lease is up.

Smouse156 · 18-02-2021 2:43pm

Ozark707 wrote: »

Well it was always going to be difficult to sustain those prices while rents were falling. Were they not asking something approaching 2k (for a 2 bed)? Still its good to see them adapting to realities by offering a second month free. I wonder what existing tenants out there will be able to do when their lease is up.

Yeah 2k for a 2-bed and they were high for Clongriffen but were very popular at launch due to the facilities/amenities. There is a whole thread for them on boards.

Naturally impossible to sustain Dublin rents when everybody fled.

rightmove · 18-02-2021 3:47pm

Smouse156 wrote: »

Just got an email off Vesta Living, which was quite popular when it launched now offering 2 months free on 2 & 3 bed apartments when you sign a one year lease...and people say rents aren’t falling &#55357;&#56834;

Just remember these discounts aren’t reflected in the Daft asking price for all of you (Dav010) that believe the Daft asking price reports.

this is a joke. trying to keep the headline rent high to keep the ptrb market rate locked in. Surely prtb need to look at this and the stupid idea of RPZ needs to go

Dav010 · 18-02-2021 4:06pm

Smouse156 wrote: »

Just got an email off Vesta Living, which was quite popular when it launched now offering 2 months free on 2 & 3 bed apartments when you sign a one year lease...and people say rents aren’t falling ðŸ˜‚

Just remember these discounts aren’t reflected in the Daft asking price for all of you (Dav010) that believe the Daft asking price reports.

Thanks for the shout out Smouse, but the monthly rent still stays the same on the lease and when registered with the RTB. The discount is just an incentive for Vista Living properties. Sorry, as analysis of the sector goes, I’m going to go with the experts instead of yours. One developments bonus is not indicative of sector wide bonuses.

As rightmove said, drop in actual rate which should occur is being stifled by RPZ. The incentive is good over a 12 month lease, but if the tenant stays on, they are stuck paying the actual rental rate. The longer the tenancy, the less that two month bonus in comparison to a drop is monthly rent seems to benefit the tenant.

It’s like getting the first drink free, then having to pay a fortune for every drink after that. The more you drink, the less value that first drink seems in the overall bill.

TSQ · 18-02-2021 6:03pm

dublin_paul wrote: »

I'm thinking of renting a 1 bed apartment for around 1600 euros on my own. With corona, gf coming over a few nights a week, and WFH, I feel like I could take the hit for a year. But I think a 6 month lease would be much better than 12 due to the potential for rent drops or economic crisis. Any thoughts?

Have you looked at Airbnb for 1 - 3 mth, and some longer.

Gradius · 18-02-2021 6:11pm

When the pandemic payments end we're going to see the real state of the country.

Dav010 · 18-02-2021 6:29pm

Gradius wrote: »

When the pandemic payments end we're going to see the real state of the country.

In relation to Dublin rents, the true state of the sector will manifest itself when we see third level colleges reopen and the extent of workers returning to offices. Until that happens, people are just guessing, and I include LLs in that group, about what demand/supply will mean for Dublin rents.

Claw Hammer · 19-02-2021 12:32pm

The true state of the sector is something that is ever-changing. Currently rents are falling. There are a number of factors which are going to have an effect when students return and workers in various industries come back to work. One factor is that some landlords are taking the opportunity to sell their properties if they become vacant. This is being offset to some extent by vultures commissioning the building of apartment blocks, buy to let basis. This has slowed down due to the halt in construction activity. There are also homeowners unwilling to avail of rent a room at the moment and the extent to which this pattern reverses will also be of some significance when there is an opening up.

Dav010 · 19-02-2021 1:00pm

https://news.google.com/articles/CBMinwFodHRwczovL3d3dy5pbmRlcGVuZGVudC5pZS9idXNpbmVzcy9jb21tZXJjaWFsLXByb3BlcnR5L2lyZWxhbmRzLWJpZ2dlc3QtcHJpdmF0ZS1sYW5kbG9yZC1zZWVzLXJlbnRhbC1pbmNvbWUtaW5jcmVhc2Utb24tdGhlLWJhY2stb2YtYWNxdWlzaXRpb25zLTQwMTA4NDk4Lmh0bWzSAZ8BaHR0cHM6Ly9hbXAuaW5kZXBlbmRlbnQuaWUvYnVzaW5lc3MvY29tbWVyY2lhbC1wcm9wZXJ0eS9pcmVsYW5kcy1iaWdnZXN0LXByaXZhdGUtbGFuZGxvcmQtc2Vlcy1yZW50YWwtaW5jb21lLWluY3JlYXNlLW9uLXRoZS1iYWNrLW9mLWFjcXVpc2l0aW9ucy00MDEwODQ5OC5odG1s?hl=en-IE&gl=IE&ceid=IE%3Aen

Fol20 · 22-02-2021 12:05am

Greenlights16 wrote: »

Was chatting to a best mate of mine tonight who was telling me he’s renting his place in Dublin. Now, I know nothing of the property sector in Ireland and just thought I’d pop it on here as mate doesn’t have a boards account.

In his ad on daft he politely responded at the start of the weekend to a lady saying “sorry hap is unsuitable for this property, hap not accepted”.
The lady responded telling him this is illegal and will be getting onto “the threshold” first thing Monday.

He’s worrying all weekend about it and he’s a good person, first property he’s ever rented.
I told him to just take down the ad from daft to be safe rather than sorry, as she could be bluffing or she could be intent on it? Not sure if this is a thing.

In my own opinion I’ve no idea what reporting it could do but surely it’s a bit ridiculous to even be worrying about it?

Given he doesn’t understand the rules or how to play the game. He should hand it off to a estate agent to manage it.

Yyhhuuu · 22-02-2021 12:10am

Greenlights16 wrote: »

Was chatting to a best mate of mine tonight who was telling me he’s renting his place in Dublin. Now, I know nothing of the property sector in Ireland and just thought I’d pop it on here as mate doesn’t have a boards account.

In his ad on daft he politely responded at the start of the weekend to a lady saying “sorry hap is unsuitable for this property, hap not accepted”.
The lady responded telling him this is illegal and will be getting onto “the threshold” first thing Monday.

He’s worrying all weekend about it and he’s a good person, first property he’s ever rented.
I told him to just take down the ad from daft to be safe rather than sorry, as she could be bluffing or she could be intent on it? Not sure if this is a thing.

In my own opinion I’ve no idea what reporting it could do but surely it’s a bit ridiculous to even be worrying about it?

Technically a case for discrimination could be taken to the Workplace Relations Commission for refusing H.A.P.. The overregulation is another reason why many landlords are exiting the market. Tell your friend to try and not to worry. If your friend has written to the potential tenant saying hap not accepted, perhaps he could write to her again to say that it was erroneous and of course HAP is accepted? Get legal advice.

Dav010 · 22-02-2021 12:16am

Greenlights16 wrote: »

Was chatting to a best mate of mine tonight who was telling me he’s renting his place in Dublin. Now, I know nothing of the property sector in Ireland and just thought I’d pop it on here as mate doesn’t have a boards account.

In his ad on daft he politely responded at the start of the weekend to a lady saying “sorry hap is unsuitable for this property, hap not accepted”.
The lady responded telling him this is illegal and will be getting onto “the threshold” first thing Monday.

He’s worrying all weekend about it and he’s a good person, first property he’s ever rented.
I told him to just take down the ad from daft to be safe rather than sorry, as she could be bluffing or she could be intent on it? Not sure if this is a thing.

In my own opinion I’ve no idea what reporting it could do but surely it’s a bit ridiculous to even be worrying about it?

Unfortunately your friend is possibly going to be reported to the WRC and could be fined a considerable amount of money as he discriminated on the grounds of HAP. Google HAP discrimination, there have been quite a few high profile cases in the last year.

https://www.google.ie/amp/s/amp.rte.ie/amp/1179248/

https://www.google.ie/amp/s/www.thejournal.ie/tenant-landlord-hap-workplace-relation-commission-discrimination-4596045-Apr2019/?amp=1

https://www.google.ie/amp/s/www.irishtimes.com/news/social-affairs/landlord-ordered-to-pay-12-000-compensation-in-discrimination-case-1.4045616?mode=amp

Dublin - Significant reduction in rents coming?

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